Three infallible tricks to boost up-sales within your online-store

13/12/2018

Angela de la Vieja

One of the great challenges that an online-store faces is to improve the quality of its sales. When we talk about the quality of a sale, we talk about boosting the average checkout value. In fact, this has been a great concern for any type of business, not just eCommerce. However, in an environment in which there is neither interaction nor personal treatment, it is necessary to contemplate the formulas that allow an increase of up-sales in the online shopping cart.

Regarding techniques to persuade users to add products to their basket, there are thousands and thousands of written articles. However, few actually focus on the really practical way of how to achieve it. You are probably aware of those that offer related products (more typical of cross selling), showing a selection of products other users purchased or by taking advantage of the step towards the check-out to show current promotions and showcase certain stock items.

Here we are going to tell you how you can put into practice these classic tips and hook more sales from your customers and increasing your online-store’s profit margin.

1. Don’t forget email marketing. Your email channel can be your best tool to get better sales from your online-store. The proposal is divided into two possibilities: propose novelties after making the main purchase or to impact the user who leaves without them. This can also be considered almost a recovery action, but the truth is that these email marketing communications can help you to achieve multiple objectives. When carrying out the proposal to purchase new products, the user acquires the impression of care and personalisation, which is so required these days. The recommendation should be well thought out and adjust to that specific users tastes and values. In addition, the fact that we offer a better service, even if it is more expensive, will be aligned with the long-awaited, and prized, exclusivity that is required in an increasingly broad market.

2. Sell packs. In many cases, the user is not receptive to the acquisition of a higher value product, either because of its price or because precisely the relationship between the increase in cost over benefits are not perceived as interesting or improved. In these cases, the proposal of product-packs is favourable to convince that the choice of a product is, basically, superior. This strategy can coexist with cross-selling strategies perfectly. The key is to find the correct presentation before the purchaser clicks. For example, at the step just before going to the shopping basket, an action that, in general, directly precedes the transaction (sales signal). Of course, in this case we must take into account the discount that is going to apply to the pack, since it has to reach the minimum profit margins of the eCommerce while still being interesting enough for the user.

3. Focus your branding on premium. What is up-selling? Is it not selling a product of a higher category? And if it is usually more expensive, how do you make the user want it for himself? We talked on another occasion about how the luxury sector is one of those that will always have a guaranteed future: expensive and exclusive sells. If we transfer this to an ordinary service, it does not seem unreasonable that the precise cornerstone of a manufacturers branding strategy is its premium product range. In this way, a natural sensation is created around its characteristics that will make its exclusivity become its best asset. It is clear that when a brand is already forged, this technique is more difficult to carry out, but there are many cases in which finally the high-end subdivisions of some products triumph much more than the original product.

As a good seller, you will know that the most difficult thing is not to get a customer, but to keep them. Hence, this part regarding retention, repeat purchase, and loyalty is, in most cases, the most arduous. However, we encourage you to try some of these different tactics to improve the sales conversion of your online-store and increase your income through up-selling.

11/11/2022

Consumer behavior: How can behavior tracking be effective for setting the right pricing strategies?

Behavior tracking is becoming massively popular today. As a result, pricing strategies born from studying consumer behavior are a merchant's dream come true. If done right, it can conquer every market for the business quickly. With abundant data available, the strategic makeover of the pricing models is becoming easy for companies.

What is behavioral tracking, and how is the data beneficial in pricing?

For a quick understanding, behavioral tracking refers to gaining in-depth knowledge and insights into consumers through their web data. Their browsing habits, spontaneous decisions, shopping interests, and preferences come under behavioral tracking.

How can enterprises use customer behavior data?

Companies can use customer behavior data as a tool to strengthen their hold on the market. A customer’s preferences, values, and tendencies allow businesses to work in sync with them through the collected data. Apart from this, customer behavior can also aid in:

Tailoring customer needs for customer retention

Personalization is becoming the heart of a company’s growth. No matter in which area an enterprise is functioning, tailoring the services, products, and solutions is becoming increasingly crucial. Uniqueness and personalization attract the crowd like no other.

Increasing the overall value

One of the best ways customer behavior data affects a business is by upgrading the value of customers for the business. The customer’s characteristics allow the company to target the people that match the business prospects well.

Optimizing every type of content

Everything that is up for digital display requires content. You must have seen companies unveiling their products or services through advertisements and making the initial public appearance. Two essential sales strategies – upselling and cross-selling comes through content optimization.

Pricing Strategy

Last but certainly not least is the influence of customer behavior data on the pricing strategy. The pricing strategy essentially constitutes content derived from data analysis. Companies need to have a dynamic approach to the pricing system to attract the right customers.

17/02/2015

Saint Valentine’s Day, always a good opportunity

V-Day is looming, a long-awaited date for all and also a good occasion for the eCommerce. According the study conducted by Prosper Insights and Analytics, it is forecasted the average consumer expense that day will be the highest in last years. Furthermore, 25% of them will buy online, which means an increase of 4% regarding 2014 (The US department of Commerce). This is, therefore, a key date where market competitiveness increase and which could be assumed as a big opportunity for our business or, a big fail if we do not adopt the correct strategies.

How to turn this event into an opportunity? To achieve this goal, we need to adapt our prices to this hostile environment, i.e. we need to develop an appropriate Dynamic Pricing strategy that allows us to adapt our prices to the variations produced in supply and demand and to position us ahead of our competitors. In V-Day, the frequency in changes will be higher, carrying it out each hour or even each minute. It is estimated that 65% of leader retailers have the ability to respond quickly at these variations, such Amazon. For this reason, it acquires great importance the correct use of a software specialised in price motorisation of competitors. Do not miss the time and adapt your business to new adversities.

28/12/2022

Which are the best footwear marketplaces to sell on?

Footwear marketplaces are booming. The last decade has seen the launch of new specialized marketplaces with millions of different users. Among them are Spartoo, Sarenza and Farfetch, portals with international reach. Their main value is that they unite hundreds of footwear brands, as well as offering clothes and accessories. Although each has its own characteristics, they are all vertical marketplaces, i.e., they focus on a specific area, and their sales categories are interrelated. For sellers, these portals provide an opportunity to expand sales channels and drive the globalization of their e-commerce business. We explain how to sell on these footwear marketplaces so that you can assess whether they align with your plans for the future and then start defining a possible pricing strategy.